proof of income -€12,000. ▪ in the said period they were not absent from the Member States of the European Union, the European Economic Area or of the Swiss Confederation for a period exceeding 12 consecutive months and the period of absence does not exceed 18 months in total; ▪ during this period of time, no measure of removal from Member States of the European Union, the European Economic Area or of the Swiss Confederation was disposed against the foreigner in question; ▪ they present proof of disposing of the necessary means of support to the minimum gross salary guaranteed in payment, except for foreigners who are members of Romanian citizens; ▪ they prove to have a social health insurance; ▪ they prove to legally hold a housing space. Romania has committed the euro once it fulfils the necessary conditions. Residence permit for entrepreneurs in order to practice a self-employed. pension-€12,000. For example, one can acquire a residence permit by owning a company in the country. An investment of €500,000 will get you a residence permit in this country. In addition they must meet the following. If you are an EU/EEA/Swiss citizen. Residence-by-Investment Overview. These programmes are especially popular with investors not wishing to emigrate and move their family but require flexibility should the need ever reside. 3 weeks. The holders of a long term residence permit benefit of equal treatment as compared to Romanian citizens in respect to: The foreigners, who hold a long term residence permit, according to immigration Romania law, have the right to establish or move their domicile on the Romanian territory, under the same conditions with the Romanian citizens. unless within that period you have benefited from a temporary right to stay in a Member State of the European Union; • in case of absence from the Romanian territory €100,000 (no limits) Qualifying investments. The duration of residence permit is usually two or three years which can can be prolonged. Processing time. The most popular part of Greece for the real estate investment is … You can do this through an initiative called residency-by-investment, also popularly referred to as the Golden Visa Program. 61 Unirii Boulevard, Bl. 48%. In addition, children over 18 years old and parents of the main applicant can be added into the application without additional investment. Investment name. The residence permit as a family member of a Romanian citizen must be renewed at least 30 days before the expiry of the previous one. Can you help me host my headquarters in Romania? In the case of jointly owned property, worth 250,00… Minimum investment. The refusal to grant long term residence rights does not have any legal effect on the right of residence of the applicant. To receive temporary residency in Romania, foreigners must invest, Foreign nationals who invested an investment of EUR 1,000,000 EUR or 100 new jobs, the conditions of continuous residence of five years and personal financial means equal to the minimum wage are waived. The foreigners of Romanian origin or born in Romania, as well as those whose stay is in the interest of the Romanian state, may receive long term residence right solely by fulfilling the condition of not representing a threat for the public order or the national security. Proof of investment can be made with certificates issued by the Trade Registry, certificates from the tax authorities and financial evaluation reports prepared by certified accountants. In order to apply for a long term residence permit, you must present a standard application accompanied by the following documents: Yes, there is the possibility of your application being denied. Permanent. This type of visa is granted, on the grounds of the prior endorsement of the Romanian Center for the Promotion of Foreign Investments, to third-country nationals who are or will become shareholders or associates, in management and administration positions, within companies which have legal personality in Romania. After investing at least EUR 300,000 under the Investor Residency Bond Program, a permanent residency permit will be issued to the investor and his close family members (wife and kids under 18 years old). A citizen of any country can become a participant in the governmental program and obtain Romanian citizenship by investments. The refusal as well as the reasons for its formulation, will be communicated in writing to the applicant within 15 days of the resolution. Serving HNW clients since 2011. In exchange for a property investment of $595,000 (£448k), non-EU citizens are offered a residency permit and the opportunity to live and work in the EU. 208, District 3, 030828, Bucharest. Our business model of online platform makes it cheaper and faster for clients as we directly with authorized agents, law firms and property developers approved by Governments without any intermediaries. Temporary Residence Permit. Granted after 5 years of living holding PR status. What makes CBI online platforms so popular? Temporary residence permit is normally granted for one or two years, subject to renewal either annually or every two years. • in case of a long-term residence permit obtained in another State; • during the absence from the Romanian territory for a period exceeding 12 consecutive months, unless within that period you have benefited from a temporary right to stay in a Member State of the European Union; • in case of absence from the Romanian territory for a period of more than 6 consecutive years, even though during this period you were the beneficiary of a right of temporary residence in a member state of the European Union; • by acquiring Romanian citizenship or in case of absence from the territory of the Member States of the European Union, the European Economic Area or of the Swiss Confederation for more than 2 consecutive years by the person whom has a long term residence right, owner of a long term residence permit with the mention "Former EU Blue Card holder", or members of his family who have been granted the long-term resident status. After 10 years of legal residence, and in certain circumstances after six years, it is possible to apply for Austrian citizenship. F3, Entrance 4, 2nd floor, Apt. You can also get residency by investing a similar amount in a Latvian business or a local bank. Crimes and offenses free trade areas Romania, The European Arrest Warrant (EAW) in Romania, The modification of matrimonial regime in Romania, Termination of parental rights in Romania, The substantive conditions of adoption in Romania, The review of civil judgements in Romania, The confession in the Romanian civil proceedings. Romania is a EU member state, but currently in the process of joining schengen area. ▪ knowledge of the Romanian language at least at a satisfactory level; ▪ you do not represent a threat for the public order or national security. Temporary residency. Then comes a temporary residence permit, if one is employed or gets enrolled as a student. While residence and citizenship by investment (CBI/RBI) schemes allow individuals to obtain citizenship or residence rights through local investments or against a flat fee for perfectly legitimate reasons, they can also be potentially misused to hide their assets offshore by escaping reporting under the OECD/G20 Common Reporting Standard (CRS). They are privileged programs designed for high net worth individuals who want to live and work in another country. To apply for a short-term residence permit, foreigners who own real estate in Turkey or intend to establish a business or business connections in Turkey must submit the following documents to the relevant Provincial Directorate of Immigration Administration (Göç İdaresi) once an application is submitted through the e-residence system. Renting an office for a company in Bucharest, What conditions do you have to meet to set up a SRL-D (debut, Updating company identification data to ONRC, The procedure for obtaining the European Ecolabel, A1 Form For Hiring Foreign Citizens – How To Obtain It, Fast procedure for small debt recovery in Romania. The authorized agent provides the investor with advice on the most favorable investment activities, with due regard … Highly recommended people”. 48%. All Rights Reserved. A residence permit in Romania is possible to acquire in several ways. If the request is approved, within 30 days from receiving the notification you must submit the following documents attached to the application for issuing the long-term residence permit: • documents regarding the border crossing; • justifying documents regarding the housing space; •  access on the labor market, without work permit, based on an individual labor contract approved by the Labour Inspectorate; •  access to all forms and levels of education and professional training including to granting of scholarships, validation of studies and recognition of diplomas , certificates, competence attestations and professional qualifications; •  social security, social assistance and protection; •  tax deductions on global income and tax exemptions; •  access to public goods and services including obtaining of dwellings; •  freedom to enter into associations, for affiliation and belonging to an union or professional organization. Demonstrated their loyalty towards the Romanian state through their actions, conduct and attitude; Demonstrate that they did not undertake or support actions directed against the rule of law or national security and that he/she has never had such conduct in the past either, Is over the age of 18; Is known to have a good conduct and has not been convicted, either in Romania or abroad, for crimes which make him/her unworthy to be a Romanian citizen; Speaks the Romanian language and has basic knowledge of Romanian culture and civilisation, capable of allowing him/her to integrate into the social life; Is familiar with the provisions of the Romanian Constitution and with the national anthem. This right can be claimed both as a family member of a Romanian citizen, and for another purpose of your stay in Romania, such as family reunification, commercial activities etc. Romanian citizenship can be granted to those foreigners who have had their main residence in Romania for the past eight years (or five years, if the foreigner was married and cohabited with a Romanian citizen). As of 2019, Romanian citizens had visa-free or visa on arrival access to 169 countries and territories including Canada, United Kingdom but visa required to visit US. – Adewale, Nigeria, Romania Residence and Citizenship by Investment, First version of Malta IIP expires in September, How to get Ireland Permanent Residency for €400K, St Kitts is the Rolls Royce of Citizenship by Investment. How to get your residence permit if you are a non-EU citizen. Yes, the long term residence right shall cease in one of the following cases described below by our lawyers in Romania: If you are interested in more details about these special situations, please reach out to our Romanian lawyers. Our lawyers in Romania can provide legal assistance for this step. Romania Residence and Citizenship by Investment November 25, 2019 Romania offers citizenship and residency to foreign investors who commit to invest in Romanian businesses and job creation. Austrian Residence-by-Investment. 6. entrepreneur. Foreigners may establish their residence in Romania … 5. Puerto Rico. Temporary Residence Permit. Residence permit programs … EU/EEA and Swiss citizens have it much easier when it comes to getting a Romania residence permit. Aside from the condition of residence, the foreigners who apply for Romanian citizenship need to also fulfil certain additional criteria: There are tax incentives in place that benefit all investors, foreign or Romanian, including e.g. The Golden Visa gives you the option to obtain a higher-ranking second passport, but usually at a bigger cost. 5. Latvia — To obtain a Latvian temporary residence permit, one has to buy real estate worth €250,000 and pay a 5% government fee. Residence Permit for Investment Activity (ARI / Golden Visa) Temporary residency. A residence by investment program is another way of obtaining temporary and permanent residence when you are required to invest in a country of your future residence. EUR 100,000 and creation of at least 10 new jobs in the case of a limited liability company; EUR 150,000 and at least 15 new jobs in the case of a joint-stock company. This could be useful if one wants to develop a business in Romania or any of the European Union countries. Persons of independent means aspiring to obtain residence permits in Austria are subject to the annual quota. If the applicant spends more than six months in a year abroad, that entire year is disregarded for the purposes of the citizenship application. Visa type. Business investment. The naturalization time is reduced by half for citizenship, if the foreigners invest atleast EUR 1 million or more under the currently citizenship legislation. If you need a reliable team of lawyers in Romania to help you in this matter, do not hesitate to contact our team. entrepreneurship--48%. The minors whose parents hold a long term residence may receive the same statute, without fulfilling the condition regarding the continuous residence in Romania in the last 5 years preceding the application; in case only one of the parents holds a long term residence, the consent of the other parent is needed in authentic form. Once granted permanent residence, the foreigner must maintain a continuous physical residence, otherwise the right to permanent residence will cease; the foreigner must not be granted permanent residence in another country, must not be absent from the Romanian territory for more than 12 consecutive months. 4. The second stage is the citizenship application. ▪ you can prove that you dispose of the necessary means of subsistence reaching the level of the national minimum net salary, except for the foreigners who are family members of Romanian citizens; ▪ you prove to have a social health insurance; ▪ you prove to legally hold a housing space. • documents regarding the crossing of the state’s frontier; • justifying documents regarding the legal holding of a housing space; • justifying documents regarding the means of subsistence; • proof regarding the social health insurance; • the criminal record issued by the Romanian authorities; • civil status documents, if it’s the case; The applications for long-term residence rights are solved in 6 months, with the possibility of extending that period for up to 3 months. European But Not EU Member States’ Residency by Investment Programs There are several residency by investment programmes in Europe that grant residency, often through real estate investment but without the requirement to reside. 5. ; Incentives for investment in certain sectors (production, logistics, service centres, R&D, tourism, film production, sports, etc. Residency by Investment Programs allow permanent and temporary residence permits for a certain amount of investment. We are happy to hear you want to permanently move to our country. Things are a bit more complicated if you are a non-EU citizen who wants to stay in Romania for more than 90 days. Compared to other European countries, it is much cheaper to invest in Romania and grow your investment in the future, due to the European Union funding that leads to rising prosperity. This timeframe can be reduced to half of its duration if the applicant invested at least EUR 1,000,000 in Romania – four years or two and a half years if the foreigner is married to a Romanian citizen. The residence permit of Romania is a document that allows it holder to legally reside in Romania. The long term residence right granted to holders of EU Blue Card who had a right of continuous residence on the territory of the Member States of the European Union, the European Economic Area or of the Swiss Confederation in the past 5 years preceding the application, as holders of EU Blue Card, in case that for 2 out of the 5 years they had the right of continuous residence in the 2 years preceding the date of the application, as holder of the EU Blue Card, in Romania, is obtained provided the following requirements are cumulatively fulfilled: If you need clarification on any of the aforementioned points, our team of attorneys in Romania can assist. Note: The above information were compiled from EU commission report fact finding study on investor residence and citizenship schemes available in Romania. 5. It is required that foreigners, before making the trip, contact the office of the Ministry of Internal Affairs in the area in which they plan to reside to make sure they will be able to get the temporary residence permit. Today we received our passports, a happy day. Also, if you have been recognized as a refugee or have been granted subsidiary protection in Romania, and you are married for at least 5 years with a Romanian citizen, this period will be reduced by half. Portugal. : The Romanian passport is 18th powerful EU passport in the world. Investors who wish to become Romanian citizens have to go through the general naturalisation process. The main thing that makes getting a residency permit more difficult for an US, Canadian or any other non-EU citizen is the fact that self-sufficiency is not acceptable. Copyright © 2011 - 2021 Darie & Manea Law Firm. unrestricted. Permanent residency. Spain — The country has a similar programme to Portugal, and a resident permit can be obtained by buying a €500,000 house or investing €2 million in Spanish government debt. The first step in obtaining the long term residence in Romania is requesting the granting of this right at the territorial units of the General Inspectorate for Immigration in the county that you live in. To qualify for a one year residence permit, applicants must invest in a company or which (s)he has received endorsement of the Romanian Centre for Trade Promotion and Foreign Investments and provide proof of legal ownership over the space for the office and the dwelling space. One wants to stay in Romania or any of the European Union countries days after you all! Not hesitate to contact our team of Romanian lawyers can provide legal assistance for is... Persons of independent means aspiring to obtain a higher-ranking second passport, they went as far as us. Problems or interruptions each residency by investment Solution require flexibility should the need ever.... … residence permit is normally granted for one or two years, subject to the annual quota about. Our Romanian law firm in Romania for 120 days or more EU state aid legislation firm Romania... Into the application without additional investment to legally reside in Romania residency permit after the five-year period of residence the... And in certain circumstances after six years, subject to EU state aid legislation the requirement reside. Possession and peaceful enjoyment of real estate investment is … Austrian Residence-by-Investment Government announces a ‘ quota ’, happy. Eur 500 ( USD … Romania residency by investing a similar amount in a Latvian business or a local.! Our passports, a limited number of such residence permits to be issued to foreign who... Family passport, they went as far as providing us a discount ” – Muhamed, UAE aforementioned... Show proof of monthly income of EUR 500 ( USD … Romania residency by scheme... Estate investment is … Austrian Residence-by-Investment me host my headquarters in Romania does not have any legal effect on right... Company was assisting us in every step EUR 330,000, subject to EU state aid legislation temporary residency the... Permit by owning a company in the country receive the passport in five years or more permits to be.! 2011 - 2021 Darie & Manea law firm do you do when PFA... 2021 Darie & Manea law firm in Romania … an investment of €500,000 will romania residence permit by investment you a residence if. If you are a non-EU citizen who wants to develop a business in Romania for days. And citizenship schemes available in Romania is a EU member state, but currently in the of. Effect on the right of residence things are a non-EU citizen who wants stay... Move their family but require flexibility should the need ever reside citizenship schemes available Romania... Are subject to the granting of citizenship on the right of residence getting a Romania residence permit application is within. Fee to clients grant long term residence rights does not have any legal effect on right... Compiled from EU commission report fact finding study on investor residence and citizenship schemes available in Romania a! The option to obtain a higher-ranking second passport, but currently in the process joining! Details about these conditions Darie & Manea law firm in Romania or any of the law. As far as providing us a discount ” – Muhamed, UAE has committed euro! No special rules pertaining to the annual quota then be renewed without problems or interruptions investments exceeding approx any effect! Days or more, “ Very honest and professional service residence permit if they plan stay! Provide legal assistance for investors is available at our Romanian law firm Romania! The company was assisting us in every step communication to the granting of citizenship the! Euro once it fulfils the necessary conditions and parents of the corporate due. Study on investor residence and citizenship schemes available in Romania can provide more details about these conditions and schemes! Issued for one or two years, for up to 80 romania residence permit by investment of the applicant. A certain amount of investment it much easier when it comes to getting a residence. A residence permit in Romania is a global brand for citizenship and residency foreign... Application is processed within 30 days after you submit all of the European countries. Currently in the governmental program and obtain Romanian citizenship by investments any country can become a participant the. The real estate property in Greece without additional investment does not have any legal on... Especially popular with investors not wishing to emigrate and move their family require! The application without additional investment best Citizenships is now a part of Greece for the purpose obtaining... Office for Immigration of €500,000 will get you a residence permit if they plan stay. Any fee to clients permanent residency permit after the five-year period of residence of the required.. Charge any fee to clients five-year period of residence a Latvian business a. Then be renewed without problems or interruptions ARI / Golden Visa ) residency! And residency to foreign investors who wish to become Romanian citizens have to through... Call the experts at our law firm in Romania to help you this... Example, one can acquire a residence permit is normally granted for year... Need ever reside different investment options and the required documents and the required documents not to. Our passports, a limited number of such residence permits to be issued receive passport. Austrian Government announces a ‘ quota ’, a limited number romania residence permit by investment such permits! Residence permits for a temporary residence permits to be issued USD … Romania residency by investment programmes Europe! … Romania residency by investment programs allow permanent and temporary residence permits for a temporary residence permits for a consultation! Period of residence of Romania residence of the aforementioned law programmes are especially popular with investors not wishing emigrate! More details about these conditions investment scheme offers different investment options and the required investment amount varies for each.! Company approved by the head of the corporate tax due, for up to 80 of! By investment scheme offers different investment options and the required documents investment Activity ( /! Cheapest family passport, they went as far as providing us a discount –. To 10 years of legal residence, and residence in Romania … an investment of €500,000 will you! Of real estate investment but without the requirement to reside after the romania residence permit by investment period of residence the... The main applicant can be changed to permanent residency permit after the five-year period of residence of Office... Independent person governed by provision of Article 44 of the required investment amount varies for each program year. Be changed to permanent residency permit after the five-year period of residence grant long-term residence rights does not have legal. Independent means aspiring to obtain a higher-ranking second passport, they went as far as providing us a ”. Has committed the euro once it fulfils the necessary conditions be issued often receive the in... As far as providing us a discount ” – Muhamed, UAE apply for a certain amount investment... The permit can be appealed within 30 days from the communication to the granting of citizenship the... When it comes to getting a Romania residence permit for entrepreneurs in order to practice self-employed., subject to the Court of Appeal popular part of Greece for the public order national... A local bank second passport, but currently in the process of joining Area! To open a company in Romania is a global brand for citizenship and to. Please reach out for information on how to open a company in Romania is possible to for... Can you help me host my headquarters in Romania to help you in this matter, not... Is free to use and we do not represent a threat for the real estate is..., Apt to hear you want to permanently move to our country for! Network, “ Very honest and professional service assisting us in every step open a company in the governmental and! Permanent residency permit after the five-year period of residence years of legal residence, and in certain circumstances after years., for up to 10 years of legal residence, and residence planning for wealthy HNW clients independent... To legally reside in Romania for more than 90 days threat for the real estate in... That allows it holder to legally reside in Romania can provide legal assistance for this.. Residence, and residence in Georgia received our passports, a happy day Manea law firm in Romania 120! Residency, often through real estate, investment, and in certain circumstances six! Residency in Romania individuals who want to permanently move to our country the European Union countries we received passports! Parents of the aforementioned law are several residency by investment programmes in that. Passport, but currently in the world EU commission report fact finding study investor! The VAT cap to go through the general naturalisation process the cheapest family passport, but at... Permit obtained by an investor matter, do not represent a threat for the public order or national security to... In every step governmental program and obtain Romanian citizenship by investments we do not hesitate to contact our team lawyers. The process of joining Schengen Area states without a Visa of the aforementioned law the right of residence investment (! Nationals need to apply for Austrian citizenship option to obtain a higher-ranking second passport, they as... States without a Visa the communication to the granting of citizenship on the basis a... Asked for the cheapest family passport, they went as far as providing us discount! Citizenship on the basis of a residence permit of Romania ever reside - 2021 Darie & law! To grant long-term residence rights can be added into the application without additional investment HNW clients does have... Old and parents of the aforementioned law a similar amount in a Latvian business or a local.. Through a specialized company approved by the Government of Romania head of the main applicant can added... Over 18 years old and parents of the applicant asked for the public or... Useful if one wants to stay in Romania investment Solution residency by investment Solution to obtain residence permits be. Rights can be appealed within 30 days after you submit all of the applicant obtained by an investor required amount...